More than half Condo sales all cash
Started by steveF
over 9 years ago
Posts: 2319
Member since: Mar 2008
Discussion about
http://www.habitatmag.com/Publication-Content/Co-op-Condo-Buyers/2016/2016-August/Cash-Is-King It's a beautiful thing not to have any banks involved in any way. No time wasting, paper pushing, people calling nonsense to get in the way of the sale.
Ironically I just went through a sale where in 100 years of Real Estate experience by the people on my side of the transaction it was by far and a way the worst transaction in terms of "people calling nonsense to get in the way of the sale" and it was an all cash deal.
30 years just think how bad it would have been if u threw a bank in there...uuuggghh
Often having more professionals can be better. People start second guessing the price when they make an all cash offer and the appraisal turns out much lower.
I think some time people with cash offers tend to be richer and less compromising. They think because they are paying cash, they own the seller and get away with many unreasonable demands. It does not apply to all buyer who are paying cash but some certainly fall in that category. Banks are more hassle but it is mostly a matter of time rather than unreasonable demands.
Professionals are better? Are u kidding me? Professionals are looking out for professionals. The less "Professionals" the better. Of course the bank wants the appraisal to come in lower it lessens their risk when the buyer has to come up with more money to match whet the market says the apartment is worth. Also most of the time the appraisals are done by some guy who's a "professional" pricing farms in Omaha. That's why Cash is King.
"Also most of the time the appraisals are done by some guy who's a "professional" pricing farms in Omaha"
Are you being serious or is this hyperbole?